Total processed dollars of $ 2.1 billion in the third quarter of 2021, up 141% from a year ago in the third quarter
Total dollars processed since the beginning of the year $ 6.7 billion
SAN ANTONIO, Oct. 28, 2021 (GLOBE NEWSWIRE) – Usio, Inc. (Nasdaq: USIO), a provider of Fintech integrated electronic payment solutions, today announced a record third quarter transaction and processing volume 2021.
Louis Hoch, President and CEO of Usio, said, âTotal dollars processed in the third quarter increased 141% from $ 852 million processed in the third quarter of 2020. Credit card dollars and transactions processed in the third quarter set a record high, led by an increase in PayFac volume while total dollars loaded on prepaid cards exceeded $ 57 million, a new quarterly record. These results illustrate the value of our payment channel diversification strategy as we experienced a small sequential slowdown in ACH growth this quarter, as expected. This strategy has yielded solid results over the past year and should continue to fuel our results. Additionally, we expect this strategy to lead us to report record third quarter revenue and continued generation of positive cash flow. “
|Third Quarter Treatment Results 2021|
|Card processing, including PayFac|
|Credit card dollars processed||+ 43%|
|Credit card transactions processed||+ 76%|
|Prepaid card loading volume||+ 2%|
|Prepaid card transaction volume||+ 115%|
|Prepaid card purchase volume||+ 18%|
|Electronic check transaction volume||+ 86%|
|Returned Check Transactions Processed||+ 100%|
|Electronic checks in processed dollars||+ 182%|
|Total dollars processed in the third quarter of 2021 was $ 2.1 billion.
About Usio, Inc.
Usio, Inc. (Nasdaq: USIO), a leading provider of FinTech integrated payment solutions, offers a wide range of payment solutions to merchants, billers, banks, service desks, crypto exchanges and card issuers. The Company operates credit, debit / prepaid and ACH payment processing platforms to provide convenient, world-class payment solutions and services to their customers. The company, through its Usio Output Solutions division, provides services related to electronic invoice submission, document composition, document decomposition, and printing and mailing services. The strength of the Company lies in its ability to provide tailor-made solutions for card issuance, payment acceptance and bill payments, as well as its unique technology in the prepaid industry. Usio is headquartered in San Antonio, Texas, and has offices in Austin, Texas, and Franklin, Tennessee, just outside of Nashville. Websites: www.usio.com, www.payfacinabox.com, www.akimbocard.com and www.usiooutput.com. Find us on FacebookÂ® and Twitter.
DISCLAIMER ON FORWARD-LOOKING STATEMENTS
With the exception of historical information contained in this document, the matters discussed in this press release include forward-looking statements which are covered by safety regulations. These statements include, without limitation, all statements regarding the intentions, beliefs and expectations of management, such as statements regarding our future and our operating and growth strategy. These forward-looking statements are identified by the use of words such as “believe”, “intend”, “intend”, “anticipate”, “expect” and “expect” among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including risks related to an economic downturn resulting from the COVID-19 pandemic, the realization of opportunities arising from the acquisition of IMS, managing the growth of the Company, the loss of key resellers, relationships with the Automated Clearinghouse network, bank sponsors, card processing providers and third party merchants, the security of our software, hardware and information, stock price volatility, the need for additional financing, the risks associated with new tax laws and compliance with complex federal, state and local laws and regulations, and ” other risks detailed from time to time in documents filed by the Company with the Securities and Exchange Commission on, including its annual report on Form 10-K for the year ended December 31, 2020. One or more of these factors has affected, and may in the future, affect the business and financial results of the Company in the future and could cause actual results to differ materially from plans and projections. The Company believes that the assumptions underlying the forward-looking statements included in this press release will prove to be correct. In light of the material uncertainties inherent in the forward-looking statements included in this document, the inclusion of this information should not be taken as a representation by us or any other person that the objectives and plans will be achieved. All forward-looking statements made in this press release are based on information currently available to management. The Company assumes no obligation to update forward-looking statements, except as required by law.
Joe Hassett, Investor Relations